Homework Answers
Answer
--Correct Answer = Option #1: $ 17,000 Unfavourable
--Sales Price Variance = (Difference between budget price and
actual price) x Actual qty sold.
= ($15500 - 14500) x 17 cars
= 1000 x 17
= $ 17,000
--Since Actual price is LESS than Budgeted price, the Variance of $ 17000 is Unfavourable.
Add Answer to:
Milltown Company specializes in selling used cars. During the month, the dealership sold 17 cars at an average pric...
18 Farad, Inc., specializes in selling used SUVs. During the month, the dealership sold 60 trucks...
18 Farad, Inc., specializes in selling used SUVs. During the month, the dealership sold 60 trucks at an average price of $8,700 each. The budget for the month was to sell 56 trucks at an average price of $9,300 each. eBook AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Print References Compute the dealership's sales price variance and sales volume variance for the month Actual Sales Flexible Budget Budgeted Sales
Farad, Inc. specializes in selling used trucks. During the month, Farad sold 51 trucks at an...
Farad, Inc. specializes in selling used trucks. During the month, Farad sold 51 trucks at an average price of $9,100 each. The budget for the month was to sell 46 trucks at an average price of $9,500 each. AQ = Actual Quantity SQ Standard Quantity AP = Actual Price SP Standard Price Compute the dealership's sales price variance and sales volume variance for the month and classify each as favorable or unfavorable Achaal Sales Flexible Budget Budgeted Sales
1.) Based on a predicted level of production and sales of 29,000 units, a company anticipates...
1.) Based on a predicted level of production and sales of 29,000 units, a company anticipates total variable costs of $113,100, fixed costs of $29,000, and operating income of $203,580. Based on this information, the budgeted amount of fixed costs for 26,000 units would be: Multiple Choice $159,400. $232,580. $29,000. $113,100 $101,400 2.) Product A has a sales price of $21 per unit. Based on a 12,000-unit production level, the variable costs are $9 per unit and the fixed costs...
Claremont Company specializes in seling refurbished copiers. During the month, the company sold 195 coplers at...
Claremont Company specializes in seling refurbished copiers. During the month, the company sold 195 coplers at an average price of $3,300 each. The budget for the month was to sell 190 coplers at an average price of $3,500. The expected total sales for 195 coplers were: Multiple Choice Ο Ο $643,500. Ο Ο $682,500. Ο Ο $627000. Ο $665,000. Ο Ο Sssa000. Regarding overhead costs, as volume increases: Multiple Choice C) Unit fixed cost increases, unit variable cost decreases Ο...
3- Claremont Company sells refurbished copiers. During the month, the company sold 180 copiers at an...
3- Claremont Company sells refurbished copiers. During the month, the company sold 180 copiers at an average price of $3,000 each. The budget for the month was to sell 175 copiers at an average price of $3,200. The expected total sales for 180 copiers were: Multiple Choice $540,000. $576,000. $525,000. $560,000. $550,000. 9- A job was budgeted to require 3 hours of labor per unit at $11.00 per hour. The job consisted of 8,000 units and was completed in 22,000...
Need help with QS, 1,2,3 with explaination please! ? 1) Butte Truck Company specializes in selling...
Need help with QS, 1,2,3 with explaination please! ?
1) Butte Truck Company specializes in selling used trucks. During the first six months of 2015, the dealership sold 50 trucks at an average price of $18,000 each. The budget for the first six months of 2015 was to sell 45 trucks at an average price of $19,000 each. Compute the dealership's sales price variance and sales volume variance for the first six months of 2009. Here is a reminder from...
Sales records indicate that the selling price of used cars at a large car dealership are...
Sales records indicate that the selling price of used cars at a large car dealership are skewed right, with a mean of $17000 and a standard deviation of $11000 Explain whether Table Z (the normal distribution table) could be used to find the probability that a single used car at this dealership would sell for less than $20000 For a random sample of 70, the mean for the sampling distribution of average price would be and the standard deviation would...
Comp Wiz sells computers. During May, it sold 700 computers at a $1,000 average price each. The May fixed budget include...
Comp Wiz sells computers. During May, it sold 700 computers at a
$1,000 average price each. The May fixed budget included sales of
750 computers at an average price of $950 each.
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
1&2. Compute the sales price variance and the sales volume
variance for May. Classify it as favorable or unfavorable.
(Indicate the effect of each variance by selecting for favorable,
unfavorable, and no...
The following data pertain to Aurora Electronics for the month of February. Static Budget Actual Units...
The following data pertain to Aurora Electronics for the month
of February.
Static Budget
Actual
Units sold
14,000
11,000
Sales revenue
$
196,000
$
137,500
Variable manufacturing cost
5,000
42,000
Fixed manufacturing cost
25,000
25,000
Variable selling and administrative cost
15,000
9,000
Fixed selling and administrative cost
15,000
15,000
Required:
Compute the sales-price and sales-volume variances for February.
(Indicate the effect of each variance by selecting
"Favorable" or "Unfavorable". Select "None" and enter "0" for no
effect (i.e., zero...
Assume that in October 2019 the Schmidt Machinery Company (Exhibit 14.1) manufactured and sold 950 units...
Assume that in October 2019 the Schmidt Machinery Company
(Exhibit 14.1) manufactured and sold 950 units for $854 each.
During this month, the company incurred $380,000 total variable
costs and $181,900 total fixed costs. The master (static) budget
data for the month are as given in Exhibit 14.1.
Required:
1. Prepare a flexible budget for the production and sale of 950
units.
2. Compute for October 2019:
a. The sales volume variance, in terms of operating income.
Indicate whether this...
18 Farad, Inc., specializes in selling used SUVs. During the month, the dealership sold 60 trucks at an average price of $8,700 each. The budget for the month was to sell 56 trucks at an average price of $9,300 each. eBook AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price Print References Compute the dealership's sales price variance and sales volume variance for the month Actual Sales Flexible Budget Budgeted Sales
Farad, Inc. specializes in selling used trucks. During the month, Farad sold 51 trucks at an average price of $9,100 each. The budget for the month was to sell 46 trucks at an average price of $9,500 each. AQ = Actual Quantity SQ Standard Quantity AP = Actual Price SP Standard Price Compute the dealership's sales price variance and sales volume variance for the month and classify each as favorable or unfavorable Achaal Sales Flexible Budget Budgeted Sales
Claremont Company specializes in seling refurbished copiers. During the month, the company sold 195 coplers at an average price of $3,300 each. The budget for the month was to sell 190 coplers at an average price of $3,500. The expected total sales for 195 coplers were: Multiple Choice Ο Ο $643,500. Ο Ο $682,500. Ο Ο $627000. Ο $665,000. Ο Ο Sssa000. Regarding overhead costs, as volume increases: Multiple Choice C) Unit fixed cost increases, unit variable cost decreases Ο...
Need help with QS, 1,2,3 with explaination please! ?
1) Butte Truck Company specializes in selling used trucks. During the first six months of 2015, the dealership sold 50 trucks at an average price of $18,000 each. The budget for the first six months of 2015 was to sell 45 trucks at an average price of $19,000 each. Compute the dealership's sales price variance and sales volume variance for the first six months of 2009. Here is a reminder from...
Sales records indicate that the selling price of used cars at a large car dealership are skewed right, with a mean of $17000 and a standard deviation of $11000 Explain whether Table Z (the normal distribution table) could be used to find the probability that a single used car at this dealership would sell for less than $20000 For a random sample of 70, the mean for the sampling distribution of average price would be and the standard deviation would...
Comp Wiz sells computers. During May, it sold 700 computers at a
$1,000 average price each. The May fixed budget included sales of
750 computers at an average price of $950 each.
AQ = Actual Quantity
SQ = Standard Quantity
AP = Actual Price
SP = Standard Price
1&2. Compute the sales price variance and the sales volume
variance for May. Classify it as favorable or unfavorable.
(Indicate the effect of each variance by selecting for favorable,
unfavorable, and no...
The following data pertain to Aurora Electronics for the month
of February.
Static Budget
Actual
Units sold
14,000
11,000
Sales revenue
$
196,000
$
137,500
Variable manufacturing cost
5,000
42,000
Fixed manufacturing cost
25,000
25,000
Variable selling and administrative cost
15,000
9,000
Fixed selling and administrative cost
15,000
15,000
Required:
Compute the sales-price and sales-volume variances for February.
(Indicate the effect of each variance by selecting
"Favorable" or "Unfavorable". Select "None" and enter "0" for no
effect (i.e., zero...
Assume that in October 2019 the Schmidt Machinery Company
(Exhibit 14.1) manufactured and sold 950 units for $854 each.
During this month, the company incurred $380,000 total variable
costs and $181,900 total fixed costs. The master (static) budget
data for the month are as given in Exhibit 14.1.
Required:
1. Prepare a flexible budget for the production and sale of 950
units.
2. Compute for October 2019:
a. The sales volume variance, in terms of operating income.
Indicate whether this...
Most questions answered within 3 hours.
-
3) What are the typical social structures in a global city?
asked 1 hour ago -
Luther Corporation
Consolidated Balance Sheet
December 31, 2019 and 2018 (in $ millions)
Assets
2019
2018...
asked 1 hour ago -
(Expected rate of return and risk) Carter Inc. is evaluating a
security. Calculate the investment’s expected...
asked 3 hours ago -
What specific indicators can point to lack of progress for
African Americans in American society?
asked 4 hours ago -
1-The Electrons in a beam are moving at 2.7×108 m/s in an
electric field of 15000...
asked 5 hours ago -
A gas tank is a vertical cylinder. It has a radius of 1m, a
height of...
asked 5 hours ago -
Accent Software faces the following conditions. All of these
support Accent’s use of a market-penetration pricing...
asked 6 hours ago -
A mathematically inclined friend emails you the following
instructions: "Meet me in the cafeteria the first...
asked 6 hours ago -
A monopoly sells in two countries . The demand curves in the two
countries are p1...
asked 7 hours ago -
A .15kg rubber ball is bounced off a wall. Before hitting the
wall, the ball moves...
asked 8 hours ago -
A manufacturing company preparing to build a new plant is
considering three potential locations for it....
asked 8 hours ago -
B. If compound Y has approximately the same values of solubility
in toluene as compound X,...
asked 9 hours ago